Increasing Demand for food grains, rapid hybridization in Vegetable, Corn and Rice Support to Drive Market Growth
Ken Research announced its latest publication on “India Seed Market Outlook to FY’2020 .The Seed Market for India will continue to grow at a considerable pace in the next few years with addition of new players and continuous support from government. The market is predicted to grow at a CAGR of ~% from FY’2016-FY’2020. There has been tremendous progress made by public and private sector in the development of hybrids in several vegetable seeds such as tomato, brinjal, chili, okra, muskmelon, sponge gourd, seeds is rapidly growing and both national and multi-national companies have actively involved in the market over the years.
The Indian seed market, over the years, has evolved by adopting and innovating upon scientific advancements in variety development and quality seed production. During FY’2010-FY’2015, the Indian seed market has grown at a CAGR of ~%.
According to Ken Research The future of the Indian seed industry is expected to be favorable on account of impelling demand due to increased subsidies and renewed government thrust on the use of high yielding varieties, thereby leading to an increased productivity in the seed market. Over the long term, several seed companies in the country are targeting to capture the market share in higher margin seed products such as fruits & vegetables and introduction of inventive products which lead to an improvement in the crop yield. It is expected that favorable government policies will continue to support the growth of Indian seed industry in the coming five years.
“Several factors including increased subsidies and renewed government thrust on the use of high yielding varieties, will lead to an increased productivity in the seed market. The industry, however, is expected to face major challenges in terms of unpredictable weather which may affect the pest occurrences in the short term. Expansion of product portfolio should be an important consideration for market players as farmers prefer to use different variety of seeds for different crops in order to enhance the productivity.” according to the Research Analyst, Ken Research.
The report titled “India Seed Market Outlook to FY’2020” provides a comprehensive analysis of the seed market in India and helps readers to identify the ongoing trends in the industry and anticipated growth in future depending upon changing industry dynamics in coming years. The report will help industry consultants, seed producing companies, suppliers, retail chains, new players and other stakeholders to align their market centric strategies according to ongoing and expected trends in the future.
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